Deals

Washington, D.C. - Douglas Development announced that Mike Isabella, former executive chef at Mediterranean restaurant  Zaytinya, and Bravo’s Top Chef  contestant, has leased 5,000 sq. ft. in a three-level Douglas Development-owned property at 707 6th Street, NW, in Washington, D.C.

Isabella will open a two-level Italian-inspired restaurant, Graffiato, in spring 2011.

Cincinnati -- Phillips Edison and Co.'s Fund IV announced its acquisition of Marketplace Shopping Center, in Independence, Mo.

The property was purchased from Centro Properties Group and Ingrid Long and Drew Quinn of Grubb & Ellis represented the Seller on the transaction. The 241,682-sq.-ft shopping center is anchored by Price Chopper.

Retailers and developers from around the country are preparing to attend the International Council of Shopping Centers’ New York deal-making convention in New York City on Dec. 6 and Dec. 7. Chain Store Age talked with Ivan L. Friedman, president and CEO of New York City-based retail real estate advisory firm RCS Real Estate Advisors, about what the industry has in store for the New York show and beyond.

As retailers prepare to attend the New York deal-making show in early December, how would you describe the current state of retail?

New York - Gymboree Corp. said Monday it did not receive any offers that top Bain Capital's $1.8 billion bid for the company and so the buyout will proceed.

The allotted time for Gymboree to receive competing offers expired Friday.

"Despite a broad solicitation of potentially interested parties, the Company did not receive any alternative acquisition proposals during the 'go-shop' period," Gymboree said in a statement.

Nampa, Idaho -- Beachwood, Ohio-based Developers Diversified Realty Corp. said Thursday it has completed construction of the 52,000-sq.-ft. Edwards Nampa Gateway Stadium 12 Theater, now open at the Nampa Gateway Center, a 921,200-sq.-ft. shopping center in Nampa, Idaho.

San Francisco -- Gap will open its first Italian flagship on  Saturday in the Corso Vittorio Emanuele shopping district of Milan.

The company said that it also plans to open an additional Gap store in Rome next year and a Banana Republic store adjacent to its Milan location "in the near future." The Milan Gap store spans three floors and 25,500 sq. ft. and will offer all Gap clothing collections.
 

New York City -- The NBA Store on Fifth Avenue in Manhattan will close in late February, due to rising rent. The company said it is looking for a new location in the city.